Oil and key grains jump after Russian rockets hit Poland
BNN Bloomberg
Commodities from oil to corn jumped following media reports of Russian missiles crossing into Poland, as the potential for a widening conflict jolted the market out of slowdown-related concerns.
West Texas Intermediate futures climbed as much as 3.3 per cent following a quick succession of reports signaling Russia’s offensive in Ukraine may be spilling across borders. Futures pared gains to settle near US$87 a barrel.
The Associated Press reported two people were killed in Poland by Russian missiles. Amid a barrage of shelling that struck Kyiv and other targets in Ukraine, Hungarian energy company MOL said a power station serving Europe’s largest pipeline was struck by artillery fire, halting deliveries on the Druzhba pipeline.
The U.S. is aware of the reports of missiles landing in the NATO member country and is looking into them, said a Pentagon spokesman at a press briefing. Russia’s defense ministry denied that its military had aimed missiles at targets near the border with Poland.
